A number of processes for the preparation of tolterodine are known. Many of them make use of starting products hardly available or the synthesis of which requires a number of steps, so that their preparation is troublesome. By way of example, U.S. Pat. No. 5,922,914 and EP 325 571 employ the intermediate 4-phenyl-chroman-2-ol. There is therefore the need for an alternative process for the preparation of racemic tolterodine, which makes use of easily available or obtainable starting products and operative conditions well suited to the industrial production, thereby decreasing costs.